{"id":9305,"date":"2020-03-22T20:06:00","date_gmt":"2020-03-22T11:06:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=9305"},"modified":"2020-03-22T14:07:29","modified_gmt":"2020-03-22T05:07:29","slug":"%e3%82%ac%e3%83%b3%e3%83%89%e3%83%a9%e3%83%83%e3%82%af%e6%b0%8f-%e6%a0%aa%e5%bc%8f%e5%b8%82%e5%a0%b4%e3%81%af%e5%bd%93%e7%84%b6%e5%8f%8d%e7%99%ba%e3%81%99%e3%82%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9305","title":{"rendered":"\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: 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class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-21-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-9219\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-21-s-and-p-500-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-21-s-and-p-500-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p>\u8ab0\u3082\u304c\u60b2\u89b3\u7684\u306b\u306a\u308b\u306a\u304b\u3001\u60b2\u89b3\u7684\u306b\u306a\u3063\u3066\u3044\u306a\u3044\u4eba\u7269\u304c\u3044\u308b\u3002\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3067\u3042\u308b\u3002\u6295\u8cc7\u5bb6\u5411\u3051\u306e\u30a6\u30a7\u30d6\u30ad\u30e3\u30b9\u30c8\u3067\u6b21\u306e\u3088\u3046\u306b\u30b3\u30e1\u30f3\u30c8\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u5148\u9031\u672b\u3042\u305f\u308a\u304b\u3089\u682a\u5f0f\u5e02\u5834\u306b\u95a2\u3057\u3066\u4ee5\u524d\u3088\u308a\u3082\u5f31\u6c17\u306b\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u5b9f\u969b\u3001\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u682a\u5f0f\u5e02\u5834\u306b\u5bfe\u3057\u3066\u5f31\u6c17\u3060\u3063\u305f\u3002\u3068\u3044\u3046\u304b\u7a7a\u58f2\u308a\u3057\u3066\u3044\u305f\u3002\u6700\u8fd1\u5f7c\u306fTwitter\u3067\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u4f55\u5e74\u304b\u3067\u521d\u3081\u3066\u306e\u3053\u3068\u306b\u306a\u308b\u304c\u3001\u4eca\u308f\u305f\u3057\u306f\u682a\u306e\u7a7a\u58f2\u308a\u3092\u3057\u3066\u3044\u306a\u3044\u3002\u6700\u5f8c\u306e3\u3064\u306e\u7a7a\u58f2\u308a\u3092\u4eca\u65e5\uff08\u8a33\u6ce8\uff1a3\u670818\u65e5\uff09\u306e\u5348\u5f8c2\u664237\u5206\u306b\u624b\u4ed5\u821e\u3063\u305f\u3002\u5229\u76ca\u304c\u3042\u307e\u308a\u306b\u5927\u304d\u304b\u3063\u305f\u306e\u3067\u53ce\u7a6b\u305b\u305a\u306b\u306f\u3044\u3089\u308c\u306a\u304b\u3063\u305f\u3002\u5e02\u5834\u306e\u30d1\u30cb\u30c3\u30af\u306f\u660e\u3089\u304b\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u3053\u306e\u4e0b\u843d\u76f8\u5834\u3067\u8cc7\u91d1\u3092\u5931\u3063\u305f\u591a\u304f\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u7fa8\u307e\u3057\u3044\u8a71\u3060\u308d\u3046\u3002\u3053\u308c\u307b\u3069\u6025\u6fc0\u306a\u76f8\u5834\u3067\u306f\u3001\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u7528\u3059\u308b\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3067\u3055\u3048\u3082\u305d\u306e1\u4eba\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9134\">\u300c\u73fe\u91d1\u306f\u30b4\u30df\u300d\u767a\u8a00\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3001\u30ea\u30b9\u30af\u30aa\u30d5\u3067\u304d\u305a\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u306720%\u640d\u5931<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u539f\u6cb9\u3068\u30b8\u30e3\u30f3\u30af\u50b5<\/strong><\/p>\n\n\n\n<p>\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u5e02\u5834\u306e\u30d1\u30cb\u30c3\u30af\u306e\u4f8b\u3068\u3057\u3066\u539f\u6cb9\u4fa1\u683c\u3068\u793e\u50b5\u5e02\u5834\u3092\u6319\u3052\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u539f\u6cb9\u304c\u4eca\u65e520\u30c9\u30eb\u307e\u3067\u4e0b\u304c\u3063\u305f\u3002\u793e\u50b5\u5e02\u5834\u304c\u3084\u3089\u308c\u3066\u3044\u308b\u3002\u6b63\u5f0f\u306b\u300c\u7121\u79e9\u5e8f\u300d\u3068\u547c\u3076\u3079\u304d\u76f8\u5834\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n\n\n\n<p>\u539f\u6cb9\u306b\u95a2\u3057\u3066\u306f\u7b46\u8005\u3082\u5927\u304d\u304f\u540c\u610f\u3059\u308b\u300220\u30c9\u30eb\u306e\u539f\u6cb9\u4fa1\u683c\u304c\u9577\u671f\u7684\u306b\u7dad\u6301\u3055\u308c\u308b\u3053\u3068\u306f\u306a\u3044\u3002\u30ed\u30b7\u30a2\u3068\u30b5\u30a6\u30b8\u306e\u30c1\u30ad\u30f3\u30ec\u30fc\u30b9\u304c\u884c\u308f\u308c\u3066\u304a\u308a\u3001\u3053\u308c\u306f\u9060\u304b\u3089\u305a\u7d42\u4e86\u3059\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/8982\">\u539f\u6cb9\u4fa1\u683c\u66b4\u843d\u3092\u3081\u3050\u308b\u30ed\u30b7\u30a2\u3068\u30b5\u30a6\u30b8\u30a2\u30e9\u30d3\u30a2\u306e\u6226\u4e89<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u793e\u50b5\u5e02\u5834\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u65b0\u578b\u30a6\u30a3\u30eb\u30b9\u3067\u6b27\u7c73\u3067\u306f\u591a\u304f\u306e\u5e97\u8217\u3084\u4e8b\u52d9\u6240\u304c\u9589\u307e\u3063\u3066\u3044\u308b\u3002\u8cc3\u91d1\u3084\u8cc3\u6599\u306a\u3069\u306e\u30b3\u30b9\u30c8\u306f\u51fa\u3066\u3044\u304f\u4e00\u65b9\u3067\u3001\u58f2\u4e0a\u304c\u4e0a\u304c\u3089\u306a\u3044\u4f01\u696d\u304c\u591a\u6570\u3042\u308b\u3002\u7c73\u56fd\u306e\u30b7\u30a7\u30fc\u30eb\u30aa\u30a4\u30eb\u4f01\u696d\u306f\u640d\u76ca\u5206\u5c90\u70b9\u3092\u5927\u5e45\u306b\u4e0b\u56de\u308b\u539f\u6cb9\u4fa1\u683c\u3067\u6b7b\u306b\u4f53\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4fe1\u7528\u306e\u4f4e\u3044\u4f01\u696d\u306e\u793e\u50b5\u3067\u3042\u308b\u30b8\u30e3\u30f3\u30af\u50b5\u306eETF\u306f\u304b\u306a\u308a\u306e\u66b4\u843d\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png\" alt=\"\" class=\"wp-image-9197\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/03\/2020-3-20-ishares-iboxx-high-yield-corporate-bond-etf-nysearca-hyg-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p>\u5371\u967a\u306a\u306e\u306f\u30b8\u30e3\u30f3\u30af\u50b5\u3067\u3042\u3063\u3066\u8ca1\u52d9\u306e\u5065\u5168\u306a\u512a\u826f\u4f01\u696d\u306f\u5225\u3060\u3068\u8a00\u3048\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u305d\u308c\u3067\u3082\u30b8\u30e3\u30f3\u30af\u50b5\u306e\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u793e\u50b5\u5168\u4f53\u306e\u91d1\u5229\u4e0a\u6607\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u3002\u305d\u308c\u3067\u3082\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u682a\u5f0f\u3068\u50b5\u5238\u306e\u4e21\u65b9\u306b\u5f37\u6c17\u3089\u3057\u3044\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u305f\u3076\u3093\u591a\u304f\u306e\u4eba\u306f\u6d41\u52d5\u6027\uff08\u8a33\u6ce8\uff1a\u52d5\u304b\u305b\u308b\u8cc7\u91d1\uff09\u3092\u78ba\u4fdd\u3057\u3066\u304a\u3053\u3046\u3068\u601d\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u3002\u6a5f\u4f1a\u3092\u5f85\u3068\u3046\u3068\u601d\u3063\u3066\u3044\u308b\u3060\u308d\u3046\u3002<\/p><p>\u682a\u5f0f\u5e02\u5834\u306f\u66b4\u843d\u3057\u305f\u306e\u306f\u7686\u77e5\u3063\u3066\u3044\u308b\u3002\u30b8\u30e3\u30f3\u30af\u50b5\u5e02\u5834\u304c\u66b4\u843d\u3057\u305f\u306e\u3082\u7686\u77e5\u3063\u3066\u3044\u308b\u3002\u5e02\u5834\u306f\u53cd\u767a\u3059\u308b\u3060\u308d\u3046\u304b\uff1f\u3000\u5f53\u7136\u53cd\u767a\u3059\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u304b\u306a\u308a\u5f37\u6c17\u306e\u767a\u8a00\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u8208\u5473\u6df1\u3044\u306e\u306f\u30b8\u30e3\u30f3\u30af\u50b5\u5e02\u5834\u3092\u682a\u5f0f\u5e02\u5834\u3068\u4e26\u3079\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u66f8\u3044\u305f\u901a\u308a\u8cc7\u91d1\u7e70\u308a\u304c\u602a\u3057\u304f\u306a\u3063\u305f\u96f6\u7d30\u4f01\u696d\u306e\u50b5\u5238\u3001\u3064\u307e\u308a\u30b8\u30e3\u30f3\u30af\u50b5\u3053\u305d\u304c\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u306e\u4e00\u756a\u306e\u61f8\u5ff5\u6750\u6599\u3060\u304b\u3089\u3067\u3042\u308b\u3002\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u304c\u9577\u671f\u306e\u4e0b\u843d\u76f8\u5834\u306b\u767a\u5c55\u3059\u308b\u3068\u3059\u308c\u3070\u3001\u305d\u308c\u306f\u30b8\u30e3\u30f3\u30af\u50b5\u5d29\u58ca\u304c\u50b5\u52d9\u5371\u6a5f\u306b\u7e4b\u304c\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9216\">\u65b0\u578b\u30b3\u30ed\u30ca\u682a\u5b89\u306f\u3044\u3064\u307e\u3067\u7d9a\u304f\u304b<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u65b0\u578b\u30b3\u30ed\u30ca\u306e\u50b7\u8de1\u306f\u6b8b\u308b\u304b<\/strong><\/p>\n\n\n\n<p>1\u6708\u304b\u3089\u8a00\u3044\u7d9a\u3051\u3066\u3044\u308b\u901a\u308a\u3001\u6765\u5e74\u306b\u306a\u308c\u3070\u65b0\u578b\u30a6\u30a3\u30eb\u30b9\u306e\u3053\u3068\u306a\u3069\u8ab0\u3082\u899a\u3048\u3066\u3044\u306a\u3044\u3002\u3060\u304b\u3089\u5b9f\u4f53\u7d4c\u6e08\u306b\u50b7\u304c\u6b8b\u3089\u306a\u3051\u308c\u3070\u682a\u4fa1\u306f\u56de\u5fa9\u3059\u308b\u3060\u308d\u3046\u3002\u305d\u306e\u50b7\u3068\u306f\u3053\u3046\u3057\u305f\u96f6\u7d30\u4f01\u696d\u306e\u7834\u7dbb\u306e\u53ef\u80fd\u6027\u306e\u3053\u3068\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3082\u3069\u3046\u3084\u3089\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u8cb7\u3044\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u304c\u65e2\u306b\u59cb\u307e\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u8a71\u3057\u3066\u3044\u308b\u3002\u7b46\u8005\u306f\u4e0a\u8a18\u306e\u8a18\u4e8b\u3067\u8ff0\u3079\u305f\u3088\u3046\u306b\u30a6\u30a3\u30eb\u30b9\u6d41\u884c\u306e\u30d4\u30fc\u30af\u304c\u682a\u4fa1\u306e\u5e95\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u3082\u3046\u5c11\u3057\u5148\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul 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